Uber reported better-than-expected revenue in its fourth-quarter earnings report on Wednesday.
Shares were down about 6% after the call with analysts as the company touted its autonomous vehicle progress but gave soft guidance on first-quarter profits.
Here’s how the company did versus LSEG consensus estimates for the period ended in December:
Earnings per share: 71 cents adjusted Revenue: $14.37 billion vs. $14.32 billion estimated
Revenue increased from $12 billion a year earlier, Uber said in its earnings release. The mobility segment, its ride-hailing platform, generated revenue of of $8.2 billion, up 19% from a year ago, while delivery revenue climbed 30% to $4.9 billion.
Analysts were expecting mobility revenue of $8.3 billion and delivery revenue of $4.72 billion, according to StreetAccount.
Net income for the quarter was $296 million, which included a $1.6 billion “net pre-tax headwind from revaluations of our equity investments,” the company said. Net income a year earlier was $6.88 billion.
Uber’s weaker profits were also related to higher taxes, and its moves to provide more affordable rides to customers in order to grow bookings and win new users. The company said it had 202 million “monthly active platform consumers,” in the fourth quarter, up 18% year over year.
Uber reported gross bookings of $54.1 billion for the quarter, topping the average analyst estimate of $53.1 billion, according to StreetAccount. Gross bookings for the first quarter are expected to increase at least 17% from a year earlier to between $52 billion and $53.5 billion.
The company’s strongest revenue growth for the quarter was in its delivery business, which started with restaurants and now includes groceries and retail. Partnerships with OpenTable, Shopify, and store brands such as Loblaws in Canada, Biedronka in Poland, Seiyu in Japan and Coles in Australia helped drive expansion.
Uber one-day stock chart
In prepared remarks ahead of the earnings call, CEO Dara Khosrowshahi said delivery growth last year was highest for Uber in the Europe, Middle East and Africa region.
Uber’s report lands during a time of transition for the ride-hail industry as autonomous vehicles become more commonplace, especially in urban markets.
Echoing a viewpoint he shared a year ago, Khosrowshahi said he’s even more convinced that “AVs will unlock a multi-trillion dollar opportunity,” adding that “autonomy fundamentally amplifies the strengths of our existing platform.”
In Atlanta and Austin, Texas, where Uber offered autonomous rides in 2025, overall trip growth “significantly accelerated” even for human drivers, the company said in a shareholder deck. In San Francisco, where Uber doesn’t yet have a robotaxi option, “the addition of AV supply to the market has grown the category overall,” Khosrowshahi said.
Alphabet’s Waymo has operated a driverless ride-hailing service via its own app in San Francisco since 2024. In some markets, Waymo offers its robotaxi rides exclusively via the Uber app.
An Uber Eats bag in the Brooklyn borough of New York, US, on Thursday, Jan. 15, 2026.
Michael Nagle | Bloomberg | Getty Images
By the end of 2026, Uber expects to be facilitating AV trips in up to 15 cities globally, split between the U.S. and other countries, Khosrowshahi said. “And by 2029, we intend to be the largest facilitator of AV trips in the world,” he added.
Forthcoming cities include Houston, Los Angeles and San Francisco, as well as London, Munich, Hong Kong, Zurich and Madrid.
But Khosrowshahi cautioned that “autonomous vehicles are likely to remain a very small portion of the rideshare category for many years to come,” given technological, regulatory and other hurdles to their broader adoption.
Uber is also focused on growing its Uber One program, with members tending to book more rides and buy more items through Uber after they subscribe. The company is investing in its advertising business as well.
Playing into the surging popularity of generative artificial intelligence, Uber said it’s working to “expand discovery and reach new customers,” via integrations with ChatGPT, allowing users to “discover services and restaurants” before completing their checkouts.
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